Cancellation of Warrant Certificate. (i) At such time as all beneficial interests in Warrant Certificates and Direct Registration Warrants have been exchanged for Common Stock in accordance herewith, redeemed, repurchased or cancelled, all Warrant Certificates shall be returned to, or cancelled and retained pursuant to applicable law by, the Warrant Agent, upon written instructions from the Company reasonably satisfactory to the Warrant Agent. (ii) If at any time: (A) the Depositary for the Global Warrant Certificates notifies the Company that the Depositary is unwilling or unable to continue as Depositary for the Global Warrant Certificates and a successor Depositary for the Global Warrant Certificates is not appointed by the Company within 90 days after delivery of such notice; or (B) the Company, in its sole discretion, notifies the Warrant Agent in writing that it elects to exclusively cause the issuance of Individual Warrant Certificate and Direct Registration Warrants under this Agreement; then the Warrant Agent, upon written instructions signed by an Appropriate Officer of the Company, shall register Individual Warrants Certificates and Direct Registration Warrants, in an aggregate number equal to the number of Warrants represented by the Global Warrant Certificates, in exchange for such Global Warrant Certificates.
Appears in 5 contracts
Samples: Equity Warrant Agreement, Warrant Agreement (Tidewater Inc), Creditor Warrant Agreement
Cancellation of Warrant Certificate. (i) At such time as all beneficial interests in Warrant Certificates and Direct Registration Warrants have been exchanged for Common Stock in accordance herewith, redeemed, repurchased or cancelled, all Warrant Certificates shall be returned to, or cancelled and retained pursuant to applicable law by, the Warrant Agent, upon written instructions from the Company reasonably satisfactory to the Warrant Agent.
(ii) If at any time:
(A) the Depositary Depository for the Global Warrant Certificates notifies the Company that the Depositary Depository is unwilling or unable to continue as Depositary Depository for the Global Warrant Certificates and a successor Depositary Depository for the Global Warrant Certificates is not appointed by the Company within 90 days after delivery of such notice; or
(B) the Company, in its sole discretion, notifies the Warrant Agent in writing that it elects to exclusively cause the issuance of Individual Warrant Certificate and Direct Registration Warrants under this Agreement; then the Warrant Agent, upon written instructions signed by an Appropriate Officer of the Company, shall register Individual Warrants Certificates and Direct Registration Warrants, in an aggregate number equal to the number of Warrants represented by the Global Warrant Certificates, in exchange for such Global Warrant Certificates.
Appears in 4 contracts
Samples: Creditor Warrant Agreement (PHI Group, Inc./De), Creditor Warrant Agreement (PHI Group, Inc./De), Creditor Warrant Agreement (PHI Group, Inc./De)
